![]() If you are looking for a specific term length, like a 3-month CD or a 10-year CD, you might find fewer options. You’ll have 10 calendar days to add more funds or withdraw existing funds, but you’ll be notified in advance.Īs you explore your CD options, it’s helpful to keep your unique situation in mind. The CD will automatically renew when the term expires. ![]() The fee is charged only on the amount withdrawn. If you decide to withdraw the principal before the term ends there will be a fee charged equal to either 90 days’ or 180 days’ simple interest, depending on the term of the CD. You can only withdraw the interest earned without penalty. Once the account is opened, money cannot be deposited or withdrawn without penalty before the CD matures. The minimum amount you can invest into a Sallie Mae CD is $2,500. CD terms start at just six months and go up to five years. Rates range between 4.00% APY to 5.55% APY. Sallie Mae offers competitive rates and a variety of CD terms. The rates you can tap into vary based on the term length you choose, which range from 4.00% APY to 5.55% APY.Īccount details and annual percentage yields (APYs) are accurate as of November 29, 2023. Sallie Mae certificates of deposit (CDs) offer competitive interest rates for savers looking to build their savings, with rates up to a 5.30% annual percentage yield (APY).
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